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Market Report: Median Price Sets New High

Now that January is behind us time to check in on what the real estate market did – and again, it doesn’t look good for buyers! For single-family homes and townhomes, the median price is a record setting $745,444. The previous high was $735,000 last June.

Here’s a look at the three primary indicators, which we’ve broken out by single-family and townhomes versus condos.

Single-family & townhomes:

The median price was $745k, up, $41k from December, and up 20% from $617,500 from January 2017.

We saw only 538 new listings (up from 271 in December). Last January, we saw 557 new listings.

The number of homes for sale at the end of January was 410 (down from 359 in December)

Condos:

The median price was $490,000, down $6,000 from December so it isn’t all bad news! But that is up 11% from January 2017’s $440,000

We 224 new condo listings, up from 82 in December. Last January we saw 199.